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CNBC
Dec 27, 2012 1:00pm EST
. >> announcer: if congress fails to agree to a plan to avoid the fiscal cliff, it will result in $40 million in funding cuts for the maternal and child health block grant resulting in 5 million less families served. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar
CNBC
Dec 27, 2012 4:00am EST
to pressure the congress to act to raise the debt ceiling. that is not directly implicated in the fiscal cliff talks, but it's part of the larger issue of debt and deficit that congress has to deal with. secondly, house run leaders conferred and sent a letter to democrats to say it is up to the senate to act. the house has already acted on a bill to avert the fiscal cliff. democrats have no intention of taking up that house bill, which would extend all of the tax cuts into 2013. the approximated says he's not going to do that. plus a senate democrat leader told me there is a possibility of extending tax cuts for those under $250 thoid, but turning off the automatic across the board budget cuts. that will be a temporary measure. and finally, president obama has returned from his vacation in hawaii to try to kick start those talks. but the white house officials tell me there are no signs of progress yet. they have to hope that when members come back to washington on the 27th, that is thursday wblg that both the president, democrats in the senate, republicans in the senate and then both parties i
CNBC
Dec 31, 2012 4:00am EST
cover but has seen an impact as the fiscal cliff approaches. congress may be able to avoid the starry cliff. they're set to temporarily extend the u.s. farm bill. the move would keep a long dormant milk subsidy from coming back to life when the current bill expires today. under a new law, the milk could be forced at prices well above what farmers are getting now if that subsidy was pushed aside. let's get a look at what's on the agenda this week in the u.s. there is no data out today and markets will put in a full trading session on wednesday. thursday is the adp employment report and weekly jobless claims. friday brings the december payroll numbers. we also get ism services and factory orders. plenty of data there. it will be quite a busy week. from all of us here at "worldwide exchange," happy early new year. on that note, we want to know if you made any resolutions, trade or otherwise on what you plan to do for 2013? send them in. tweet us or reach us individually. just after the break, we take a look at mu ni bonds. how do investors feel about this asset class next year? we'll hav
CNBC
Dec 27, 2012 9:00am EST
days and count, how close could congress cut it if we get close to a fiscal cliff deal at all? representative peter welch with insight when we're back in two. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you coul
CNBC
Dec 30, 2012 7:30pm EST
was marked by investor concerns over congress' new year's eve plans and that looming fiscal cliff. so what impact does it have on your money? alison deans is with us, senior adviser at varick asset management. nice to see you. happy new year. do you have two plans for 2012, one that includes the fiscal cliff and one that doesn't? how do you prepare for the new year as an investor? >> pretty much. i mean, the outcome, if there is some type of healthy resolution to the fiscal cliff, even if they defer it for a week or two but come up with some healthy resolution, i think it bodes really well for global markets. if we wind up going into fiscal cliff and the world loses any faith in our government to accomplish anything that's helpful or relevant, i think that could impact the markets and it could impact the economy. >> there has to be a long-term impact, though. i mean, let's face it. any deal that they can come up with is an austerity deal. it will involve some form of tax increases, you would think, and some kind of spending cuts on the wealthy. that slows things down. it's not a growth ini
CNBC
Dec 28, 2012 1:00pm EST
ameritrade. >>> welcome back to "power lunch." if you were a member of congress what would your fiscal cliff solution be. 2% of you, 2%, said big tax hike. 31% said massive spending cuts. 58% said a mix of spending cuts and tax hikes. 6% said do nothing. blame the other party. 3% said stay quiet. now let's see what's coming up on "street signs." mandy is down at the nysc. >> hi there, ty. we're scaling numerous cliffs. we have the fiscal cliff, the milk cliff and the ranmar cliff. stick around. will 2013 be a do or die year for big box retailers. which ones could be on the line. and it's prediction 2013. we're going to give you three of our big predictions for next year. i brought along a friend. top of the hour, folks, back to you on "power lunch." >> thank you, mandy. >>> back to our top story. congressional leaders heading to the white house in just about 1.5 hours in a last-minute meeting to try to avert the fiscal cliff. the debate on the hill has been downright discouraging. republicans and democrats resorting to name-calling as the year comes to a close. this is what we can expect in
CNBC
Dec 31, 2012 6:00am EST
carefully before investing. >>> looking over the fiscal cliff. >> we're running out of time. >> if congress doesn't act, then everybody's taxes go up. >> can the leaders rise above to avoid a financial fiasco? your money's at stake and we're following the latest details from the nation's capital. >>> joining us this morning, former white house insiders tony fratto and jerry bernstein. >> and the wait and see game for investors. get the wall street fratsy that could boost your financial future. have a happy new year. the second hour of "squawk box" starts right now. ♪ >>> good morning, everybody. welcome back to "squawk box" here on cnbc, i'm becky quick along with andrew ross sorkin here at cnbc headquarters. joe kernen and john harwood are in washington, d.c. this morning and our guest host on "squawk" today, former white house deputy press secretary, tony fratto, and former economic policy adviser to vice president biden, jared bernstein from the center on budget and policy priorities. both of them are cnbc contributors. happy new year. >> happy new year. happy to be here. >> on fiscal
CNBC
Dec 26, 2012 5:00am EST
for you. >>> the u.s. is set to go over the fiscal cliff in five days. that means taxes will go up for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is
CNBC
Dec 28, 2012 6:00am EST
. coming up, beyond the fiscal cliff, 90 new members of congress are on the way to washington and the new year. we're going to what the new makeup of capitol hill will mean for taxes, spending and everything else. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> welcome back to "squawk box." in the headlines this morning, as the fiscal cliff approaches congressional leaders a
CNBC
Dec 26, 2012 4:00pm EST
to be fine and in that sense we believe that the tail risks regarding the fiscal cliff have not really been fully priced in. we do believe there's risk here. if we can get past this, then clearly i think we've got a very positive environment given all the other good things that have been said over and above that, that if we go over the cliff, if there's a real possibility, then we'll see consumer incomes go down and like i said earnings expectations are likely to be revised lower, so what do we like fundamentally? >> pretty defensive areas in many cases there? >> i would say that -- >> thank you. we've got to go, guys. thank you for your thoughts and ideas today on our beloved fiscal cliff. >> five days to go and counting before we fall off the so-called fiscal cliff and while there's no deal, more news out of washington and our very own john harwood is there. >> reporter: mandy, we've got a letter from the republican leadership to the president and to the democrats in the senate saying that the house has acted, they passed legislation last year to extend all the tax cuts and to shift the s
CNBC
Dec 26, 2012 6:00am EST
the fiscal cliff, i have to react. so i know where i need to pull back. >> can congress agree to a compromise deal before the end of the year? tune in to "squawk box" tomorrow at 6:00 a.m. eastern for up-to-the-minute coverage for the fiscal cliff talks. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national.
CNBC
Dec 27, 2012 6:00am EST
benefits. the fiscal cliff is not the only ticking clock in washington. in a letter to congress treasury secretary tim geithner said the u.s. would hit the $16.4 trillion ceiling on monday. without extraordinary measures geithner announced that the treasury would begin accounting moves that would keep the government from hitting its credit limit for about two months. the treasury secretary warning that it's hard to predict exactly how much time the accounting moves will buy, because ongoing cliff negotiations make it hard for them to forecast revenue and spending for next year. >>> housing prices, some good news. on track to record their first yearly gain since 2006. it's a front page piece in "the wall street journal." it describes what is the strongest performance since the housing bust. the trend could accelerate this rebound we've seen in real estate. reason for the improvement, growing demand, shrinking supply, banks have slowed down foreclosures, and says here become more aggressive at modifying loans, or approving short sales. meantime, weak home construction in recent years is a
CNBC
Dec 24, 2012 9:00am EST
on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson is in washington on the stalemate. >> as early as the day after christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senate and he's the president of the united states. >> now the focus shifted to mitch mcconnell. the se
CNBC
Dec 26, 2012 9:00am EST
the fiscal cliff. it will be an interesting few days as congress starts to reconvene. and also as corporate america is taking up this fight as well. ceo howard schulze of starbucks urging workers at 120 washington area stores to start writing on their coffee cups, come together. >> are you serious? >> yes. yes. >> that should help. i think that's going to do it. >> problem solved. >> between that, and the pins. >> i never thought of that. >> can you imagine -- oh, good idea, howard schulze. but he says we deserve better. >> we probably do. >> he's right. >> a lot of them are still on vacation. house members have been told there's nothing scheduled for this week. but you could be called back with 48 hours' notice. so, in a perfect world, things could possibly come together. >> 48 hours' notice and we have five days to go. >> i'm not saying we're not cutting it awfully close, but that's where things stand as of right now. >> new new housing data out tod home prices rose 4.3% in the 12 months ending in october in a 20-city composite, beating analysts' forecasts. it did appear as 12 of the 20 c
CNBC
Dec 24, 2012 12:00pm EST
. regardless of what congress does or doesn't do to deal with the year-end fiscal cliff, it is too late for employers to accurately withhold income taxes from paychecks. payroll increases start january 1. but talks drag on of how to ad
CNBC
Dec 26, 2012 1:00pm EST
his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the lo
CNBC
Dec 31, 2012 1:00pm EST
, sue. >>> a special report on fiscal cliff negotiations that is in addition to our coverage all day awning on cnbc and cnbc.com. simon? >> hundred efs thousands of jobs are waiting for congress to act over the next few hours. who is in trouble? more "power lunch" in two minutes plus of course president obama speaking in about 12. this is cnbc. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. sfls welcome back to "power lunch." one of the big barometers today on how the market feels about the ofds going over the fiscal cliff is the defense sector. the defense sector index today in fact back up near the highs after that report from john harwood that they may be close to a de
CNBC
Dec 28, 2012 12:00pm EST
the fiscal cliff. >>> from shopping season to returns season. i've been doing a little bit of that. we'll show you why returns are expected to jump by more than 30% this year. the one thing, the one thing that could derail the social media powerhouses in 2013. find out what it is today on "power." meantime, "halftime report" returns after this. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> welcome back. all eyes have been on the yen as it's been sinking versus the dollar hitting a fresh two-year low just today. lets gait your money in motion trade now. boris joins us from b.k. asset management. >> good to be with you. >> everybody in their brother it seems is getting on this train. >> yes. >> it's getting a little crowded, isn't it? >> it is getting a little crowded. i still like the trade. i think the trade is very sustainable into 2013.
CNBC
Dec 28, 2012 9:00am EST
's not just the fiscal cliff, we've been talking about dairy farmers and wind farmers facing their own cliff. the price of a gallon of milk could cost $8 next year if congress fails to renew certain agricultural programs come december 31st. that's when wind farmers will also see the federal wind production tax credit disappear, which could lead the industry at a standstill. in addition to the fiscal cliff, milk cliff, and wind farm cliff, what other cliff are you worried about these days? tweet us. we have a new handle @squawkstreet and junior responses throughout the morning. >> some people on twitter have criticized how we just called it the container cliff. saying not everything is a cliff. >> but everything is a cliff. there is a deadline. >> containers will come in tor they won't. it's binary. >> we were chatting during the break, we're not allowed to own stocks, individual names, but if there was a name you wish you'd bought in the face of bad news last year? >> jpmorgan. it seemed that everyone wanted to sell off the stock, and this would be a huge impact on jpm. it had some perceptio
CNBC
Dec 26, 2012 7:00pm EST
which may or may not be direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the
CNBC
Dec 31, 2012 9:00am EST
tax system, unless congress comes up with a patch and that's part of the whole fiscal cliff effect. come on over here, we'll show you more. 2.1 million, that's the number of long term unemployed americans who will lose the extended benefits again if there's no fix to the fiscal cliff. $1,000, that's the amount that the average family will see a tax hike from the expiration of the payroll tax cuts. i would point out this is probably both away. both sides seem to be on board with undoing that temporary tax cut. 9% is the percent deutsche bank sees the unemployment rate up from the 7.8% where we are right now if we do go over the fiscal cliff. and then this number here, again, john harwood was talking about this, 8.2%, that's the across the board automatic cuts. fema, education, and of course state and local aid which is something that you would see on an individual basis. one more chart i want to show you. again, we talked about big numbers. but it will affect different states differently. this is a chart organized by federal spending as a percent of state gdp. the maryland, virginia
CNBC
Dec 27, 2012 4:00pm EST
. fewer than five days to go until whi we go over the proverbial fiscal cliff and when dividend taxes go up it makes an already bad situation worse. >> right now the tax is 15%. by next tuesday, folks, wouts a deal from congress, they are going to more than double to 39.6%. now he wrote this opinion piece in "forbes" highlighting an unfair tax code that rewards debt and penalizes those dividend payments. joining us now here is the author of that, the ceo of otc markets group. you've got a real bone to pick over this. plain your special. thank you amanda and bill. have 16 under daying securities in the otc marketplaces. these companies attract dividend investors. keep them honest and great source of revenue. hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we re
CNBC
Dec 24, 2012 6:00am EST
-- this is a long -- well congress -- >> there you go. >> the clock continues to tick down towards the fiscal cliff. ben white chief economic correspondent at politico is here with the latest on this negotiation impasse, and of course, ben white, morning money. >> you can definitely talk about morning money. >> what's it called? >> morning money. >> say it again. >> morning money. >> morning money. >> sign it for it at politico.com. >> politico? >> you've heard of that. >> but it's on morning money. >> what do you think the chances are? five days, four days? >> yeah, i mean, let's say, until new year's about five. i give it like a 70% chance we go over, 30% chance we don't. i think a lot of it depends on mitch mcconnell, the senate minority leader, if he decides to allow a bill to move forward on the floor. >> is there anything going on behind the scenes that we don't know about? >> there is. the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is dif
Search Results 0 to 22 of about 23